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. europe has also been a blend of red and green as the ft names ecb chief the person of the year. we're going to kick off with breaking news. for that would, we go to david faber. >> news on best buy, in the news yesterday. the stock up sharply. what we can tell you right now is the board of directors of best buy, and its founder, richard schultz, has been trying to put together a group to essentially buy the company in a go private transaction, have extended the deadline in which he would need to come with a bid for best buy and created a window in fact that will begin on february 1st next year and end with the end of that month on february the 28th. giving schultz the opportunity to look at not just christmas sales, but the end of their fiscal year, which will end at best buy on the 31st of january. and that window, again, will be 28 days long giving him an opportunity to continue to try to cobble together a bid with private equity firms and those who might finance a potential bid for the company at whatever price that might come at, if it were in fact to come at all. no word in te
in yesterday's rally. we didn't get housing starts, that's earlier today. as for the picture in europe, really the stand outout here is the euro. greece getting a five notch upgrade at the s&p. our road map this morning starts with gm. government motors no more. the treasury to exit its stake in the next 12 to 18 months, purchasing 2 million shares by the end of this month. >> another challenging quarter for fedex with the blame squarely on sandy. but the stock is up pre-market. >> oracle posts a strong quarter with even stronger guidance. the season rebound in europe. no impact from the fiscal cliff. >> and ge gets boosted from ubs's key call list on the weaker than expected macro environment. still on the list is including -- well tell you in a couple of minutes. >> general motors is up sharply in the pre-market session. the treasury department says it intends to sell the rest of its stakes in gm in the next 12 to 15 months. the automaker will buy back 200 million shares from treasury for $27.50 a share. treasury says it plans to sell its other remaining shares through various means in an or
keeps rates unchanged. europe continues to hang in there economically. >> and nat gas gets a boost. the government finds exporting it is better than keeping it here at home. >> apple as we mentioned in the spotlight today, shares of the tech giant coming off their worst day in four years, sliding back into bear market territory. the one day loss erased nearly $35 billion in market cap. that chunk is bigger than 400 other s&p 500 companies. apple ceo tim cook talked to nbc's brian williams in our rock center exclusive. >> why can't you be a made in america company? >> you know, this i found, as a matter of fact, the engine in here is made in america. and not only are the engines in here made in america, but engines are made in america and are exported. the glass on this phone is made in kentucky. so we have been working for years on doing more and more in the united states, next year, we will do one of our existing mac lines in the united states. >> you can see the entire interview with tim cook tonight on rock center, that's 10:00 eastern time on your local nbc station, but for now
without $1 trillion in stimulus. in europe the stimulus stopped working in 2012. in 2013 the stimulus is just not going to make an impact. these more wealthy people that will be spending will be hit by more taxes and they will slow down and i think that you're going to see the economy be much worse in 2013, but, you know, we may get more stimulus first in china and europe so i think it's going to be see-saw first half of 2013 and then i think the markets will head down seriously in the second half of 2013. >> but, again, to his point, the wealthy includes savers, both corporate and individuals, grandma and grand past the fed is killing them. >> killing them. >> so if we don't reball the equation, i don't think we'll make any progress. >> very, very important insights. gentlemen, appreciate it. >> happy new year. >> let's hope it's a happy one, guys. thank you. >>> meanwhile, dallas federal reserve president richard fisher saying congress should borrow a book from its playbook to strike a deal on the fiscal cliff. >> we get things done. we make a decision, and we proceed. >> we'll disc
deal or not. futures are up and the dow gained 100 yesterday. but there is room for skepticism. europe's grappling with the same question helped by some decent uk inflation data today. and a t-bill auction in spain. our road map begins with what appear to be significant progress in the debt negotiations overnight. a whose proposal looking to raise rates for those making more than $400,000 a year. but senator corker on squawk just poured a bucket of ice water on those hopes. >> whitney boosts her recommendations on citi, bank of america and discover financial. is that move by one of the more famous financial bears, a sign of a new era for banks? >> walmart is once again the target of a "new york times" investigation. but does the paper add anything new and can the stock outperform just as it did last time. >> private equity firm server said it will sell the firearms conglomerate. is private equity talking about guns in the country. >> futures moving higher on optimism. the white house republicans rising above partisanship, getting closer to striking a deal on the fiscal cliff. we have t
talked about that ubs story. that's a massive, massive fine. one of the biggest banks here in europe. yes, there have been a lot of press speculation about the side of the fine, but it's three times bigger than the fine ba barclay's was fined. ubs also admitting to criminal wro wrongdoing in japan. >> how are global markets doing at this hour? >> well, actually global markets are up. they're cheering, you know, the fact that there could be a fiscal cliff deal between democrats and republicans. look, we've got european markets close to year highs, the cac and dax at 52-week highs. this is more related to the expected aggressive monetary easing by the boj, but even the u.s. markets, the s&p 500 at a two-month high. >> i'm curious, we never really know how the fiscal cliff conversation plays out overseas. is it something that moves the needle in the markets in europe and asia? >> absolutely it does. given that, you know, in terms of european risk, everything pretty much done and dusted. we don't have much more european event risk until the end of the year, this is what we're focusing on. eve
the slots at heathrow. those remain the crown jewel in terms of the airline business going over to europe. if you have access to those slots, it's a much easier way to become profitable or increase your profits over in europe. by the way, there are 31 daily flights between the uk and north america. we'll find out exactly what happens in terms of frequent flier redemption possibilities between delta and virgin atlantic. remember, virgin atlantic is not part of any global alliance, not part of the sky team alliance, although many wonder if that's going to change with some time. take a look at shares of delta. richard anderson has had a nice little move here. some people would say, listen, this is all about jet fuel as it has moderated. there's something else at play here. we'll be talking with richard anderson about this at 11:40, first on cnbc. we'll talk to him after the press conference announcing this deal. you don't want to miss what he has to say. this is a ceo, and we've talked about it several times, who is trying to take the steps that will help delta grow in the future. you look a
conference in just a few hours. as for europe, some green arrows, despite a miss in the eurozone in production this morning. >> the road map starts this morning with, of course, the fed. expectations for revamped bond buying program. what will the economic forecast say about next year and what to make of the "wall street journal" story that says academics are driving monetary policy at secret dinners in switzer land. >> more counteroffers in the debt negotiations. it looks like corporate taxes are part of the deductions. >> costco beats by 2 cents, better sales and better sales and membership fees. >> some more reports about apple tv today. the journal said it's designing a high -- new high-resolution set. microsoft trying to widen the list of retailers that will carry the surface tablet. the fed is going to wrap up its two-day meeting. a watch is on to see if ben bernanke and policy makers make a decision about the interest rates. later on, the chairman will hold a news conference, and of course, cnbc, will bring it to you live. coverage beginning at 2:00 p.m. eastern. jim, a lo
, the meeting at the white house, 3:00 between the president and some congressional leaders. as for europe, getting some data out of japan overnight and some data out of europe. currently red arrows across the board, in london, paris, and frankfort. our road map begins at the white house. congressional leaders set to meet with the president, 3:00 p.m. this afternoon. senator reid has already said hopes of a deal are fading quickly. just two trading days left until the cliff. and it's not just the fiscal cliff. wind farms and dairy are set to get hit. >> the ports of the east coast and gulf coast are bracing for a potential strike. the potential for this, midnight sunday with a shutdown threatening to threaten 20% of the cargo traffic. >> and instagram feeling the sting of the flap around privacy with users, fleeing the site. how will this impact facebook? >> as we mentioned, dennis berman, "wall street journal" market place editor is joining us here on set once again for the next hour. good to have you back, dennis. lots to talk about between the cliff and other news. >> three days before
not too concerned. futures up 21 points. decent data out of europe, we will talk about in a minute what a day for the asian markets again. also coming up. our road map begins at andrews air force base where the president arrives in a couple of hours, cutting his hawaiian vacation short to address the fiscal cliff s there really any hope in the last attempt? does the market fade if there's no news tomorrow night? >> the nikkei continues its 21-month run. how much is the boj willing to put up with? >> looking a at potential strike in the nation's port on the east and southern coast, the first since '77 that could cost retailers and importers billions. businesses now asking its white house to get involved. >>> you can now get the nokia lumia for free, depending on the service provider contract you sign s that standard practice or a sign the company's flagship phone suspect selling well? >>> we will start off with news about the fiscal cliff. congress returning to capitol hill today to try to get a deal done on the cliff before the deadline on december 31st. senate majority leader harry rei
that as a problem states are operating as individual countries. when you go to europe, you know, the size is around the same but you see each state size is a country in europe. we are operating like a country. each state if colorado wants marijuana then they goat et it. if florida wants to have guns. was i was growing up i noticed that the federal government stepped in more. the lawmakers were accountable. if you went too mar in yofar in state the federal government slapped you back a little bit. when president obama came into arizona he got a stern talking to. and he's a chief of the country and he has a finger in his face. we have to have the respect for our leaders. the best that we can do is get t the stand your ground laurie peeled. that is why we want to repeal that. >> lucia and ron and your lawyer, john phillips. thank you for coming here and telling the story. i'm very, very sorry that you are sitting here tonight telling the story that you have to tell. thank you. we'll be back. you won't take my life. you won't take our future. aids affects us all. even babies. chevron is working to stop
right after the open. as for the action in europe, taking its cues from the united states. we'll see a big rally in china extending one of its biggest rallies in three years. we have a mixed bag in europe with italy up by about .2 of 1%. >> we'll do our best to keep focused on the business day. we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes, earnings. fedex, research in motion among the companies reporting. so finally maybe we'll be talking
on fiscal negotiations look like to the rest of the world, particularly europe where eurozone are taking drastic budget cuts and austerity measures that make our situation look tame. chris just returned from a trip to europe's capitals, including athens, and shares his experience of the complete xlik devastation in greece currently dealing with. >> jared bernstein, former economic adviser. >> we don't know what the risks are of what might happen january 1st. there's a risk it could be horrible. that's all i'm saying. tell me what you saw in athens n greece when you were just there. >> i've traveled to greece quite a bit over the last few years for political work i've done there in the past. i don't know how to express it any more clearly than it was unbelievably sad and depressing. i mean, the country is in a great depression. unemployment is about 25%. unemployment among youths is about 55%. the economy contracted by 7.2% in the last quarter. those are numbers. i'll tell what you i saw which i think is more go through part o the greek beverly hills, if you will, and you see store closed
is going to be, fiscal cliff going into the end of the year, we'll start to focus on europe and japan printing money over there. we'll get back into the macroeconomic horizons and see how it goes. but yeah. i think there's been some outflows in certain sectors, risk is on here. >> all right. bill nichols how are you playing this waiting game right now? >> i think one of the real interesting sectors one of the guests mentioned is the action in financials. you look at bank america and you haven't seen any real participation in the financial sector for four or five years. that's one to keep an eye on. you may see a meaningful move. that could be good for the market. >> you don't think it's too late -- >> -- next year in terms of a tax increase. >> bank of america is the best performing this year. it's not too late to get into that? you think there's more to come? >> look at the short-term move and it looks good. look at a five or six year chart and it's a different story. looks like you've got more room on the upside. >> rick santelli, jump in here. what are you seeing in chicago the mov
canal that made our world a smaller place. we supported the marshall plan that helped europe regain its strength. and pioneered the atm, so you can get cash when you want it. it's been our privilege to back ideas like these, and the leaders behind them. so why should our anniversary matter to you? because for 200 years, we've been helping people and their ideas move from ambition to achievement. and the next great idea could be yours. ♪ can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. . >>> what i care about is reducing the deficits. we'll investigation pleasive growth in the country. >> how high will this market go in the face of the fiscal cliff? >> so bad they are actually good. j.c. penney and groupon have been miserable stocks this year, and their ceos are both in the running for herb greenberg's worst ceo award of 2012 which he'll bring you live. could there be more upside for these troubled names? let's talk number
, stabilization in europe and the u.s. at 2.7% gdp growth is a little stronger to handle this, so that's why i think you want to be buying on this. >> everybody wants to buy. so many people -- you want to be bullish, but these guys in washington, and gals in washington, give you so little reason to actually be bullish. you're right. the corporate sector you know, loaded with cash, fundamentals turning positive. >> but this is the big difference from last year, last summer where the economy was so fragile. we were in such a fragile state last suggest so it was easy to tip us over. now we're a little better here in the states but a lot better in china, and a little bit better in europe. >> we've got to get to jim. >> because of the contrarian view, jim, is once we get a deal, we sell right into the deal. >> yeah, that's right. i'm going tonight skunk at the garden party here, and i'm geg going to tell you i never thought we'd get a deal. throwing rocks at each other. more likely we won't get a deal. the economy is as bad as last summer, looking at 1.5% growth for the fourth quarter, maybe the sa
appreciate it. ? thank you. >> europe's fiscal woes dominated the american markets most of the year. >> the fragile european economy not out of the woods just yet. here is jimmy pathakukas of the institute. it was "barron's" just this week. this is the year to invest in europe. do you disagree with that or can the two work together? >> well, you know, they say the united states don't fight the fed. in europe you would say don't fight the ecb as long as they believe that they would do whatever it takes to keep the euro together, i guess that's a positive, but remember, you have an economy back in recession that was in terrible shape to begin with and i think you have a lot of austerity fatigue going on spain, italy, portugal, certainly greece. so you have those economic woes. the euro is not going to thrive and it may survive thanks to the ecb, but you're not going to get that economy to thrive, and the fiscal union ask those are very slow going and though they may be moving quickly by european standards and i've been given the magnitude of the problem going very slowly. >> how shoul
a dozen people have been killed, more than 60 wounded. >> as unrest in other parts of the world, europe, in spain, a developing conflict over medical workers. they're taking to the streets to protest budgets cuts and plans to privatize hospitals in spain. thousands of demonstrators marched through madrid. critics say it would dismental spain's healthcare system but the government says cuts are necessary to secure health services during the recession. >>> the countdown continues. at this point there's just over three weeks until our nation potentially tumbles over what we call the fiscal cliff. john boehner says there's been no real progress in the negotiations between the white house and lawmakers on capitol hill. now he's accusing president obama of dragging his feet as the deadline looms. is more of the same in store for the week ahead? joining us, managing edit for of the hill. >> good morning. >> we talk about this happening and going over the cliff. speaker boehner accuses the white house of dragging its feet. >> president obama offered a proposal, republicans didn't like that plan
for dairy lovers. scientists in europe say they found the oldest evidence yet of cheese making. 7500 years old. researchers tested pottery fragments from poland, which had strainers that could have helped make beer, honey or cheese. hopefully beer. they say they found lots of fatty milk residue, so figured those prehistoric humans were making cheese. nasa scientists say it's like a baby picture of the universe. the hubbell telescope capturing images from billions of years back. just after the universe was born. first, the man who teamed up with the beatles to bring traditional indian music to a global audience has died. ♪ ravi shankar performed across europe and in the united states since the 1950s. but it was his friendship with george harrison that shot him to global staffer dom. he gave the beatles, that beatle, lessons in playing the sitar, which you can hear on songs like "nor wean i can't think wood." the pear later collaborated on the concert for bangladesh. he seemed amused when the audience applauded him tuning his instrument. among his children, norah jones. in a statement, hi
and ongoing problems in europe. the market has done better than it has usual done. what's changed? i think there will be continued political turmoil and slow growth but that's, particularly given valuations, may not be a bad year for equities as all. >> i'm going to add to that list having been a good year for the stock market. also had a lot of recovery in the housing market as well. do all these good things, all this progress become undone if we go over the fiscal cliff. >> i think clearly we've seen some healing in housing which is great and as has already been said we've seen some good progress over in europe and in china so that's all great. i'm neutral on equities in my allocation strategy fund, target rich funds and the reason for that is the fiscal cliff. if we go over the fiscal cliff then i think that given how lean companies are, and as slow as we're growing, we could see the economy dip back into recession and earnings estimates will have to go lower. >> the mastercard report on retail sales not good. the worst since '08, and you're concerned -- obviously there are those who fe
or pertain to europe or all of it? >> it pertains it a variety of things. first of all, ingenuity of u.s. corporations is outstanding. they got lean, mean and made money. profit margins went it a record high. now they are under pressure. so i'm not sure if we can keep that same level of high level profit margins. i think have you wild cards in europe and certainly we are very reminiscent of the debt ceiling fiasco we saw last year. >> yes, yes. all right, thank you, arthur. dear friend. >> my pleasure. >>> now to brian with the market flash. bri some. >> shares of aig up about 3%. their asian interest aia, basically going to get about 6 billion plus in terms of net on that deal so they will be out of that position. if you put into account, being out of their commit many to the u.s. government now putting cash in the bank to the tune of 6 to $6.5 billion, aig continues to look stronger every single day. up about 50% year to date. back to you. >> thank pup next half hour. bonds, are they in a bubble ready to burst? many thought it would happen this year, and they were wrong. we will disc
with modest gains. europe holding onto gains and china up nearly 3% over night as shanghai catches a break. our road map begins with a $20 billion deal. freeport mcmoran getting into the energy business making two acquisitions. plains exploration and mcmoran exploration. >>> concerns over the u.s. economy as adp misses estimates. the blame goes to superstorm sandy. goldman says the party is officially over for gold. >> starbucks at an investors conference will add 1,500 stores in the u.s. over the next five years. wait until you hear what they said about china. >> a big day in media. pandora ceo joins us live later this morning as the stock fell nearly 20% on weak guidance and netflix signs a big exclusive with disney. how much are they having to pay up for that? >>> let's deal with this big deal. as i've been telling you we'll see a lot of big deals -- i was wrong. here we are. freeport mcmoran buying not one but two companies. the combined price if you add it all together gets close to $20 billion. that does include debt. let's go through some of the details. it's somewhat complex. let's
surpassed north maeshg and europe combined in terms of global power, based upon gdp, population size, military spending and technological spending. china alone will probably have the largest economy, surpassing that of the united states a few years before 2030. people because of technology, people really have more power than they've ever had before, individuals have more power an that can also cause problems with, you know, people using technology for ill means. >> is this the whole report? >> the 140-page rundown. i'm sure the president gets a bigger one. >> this is an intelligence report. >> yes. >> why on earth would anyone buy a jillion dollar card for starbucks. >> this is the question of the surgery. they had a $450 stainless steel elite card. now they're on ebay getting them for maybe $1,000. some is of the bids are up to $1,000. it's collectors item for the to be 1%. these starbucks limited edition gift cards have sparked a frenzy on ebay of people who want to hold on to this. >> it's the perfect gift for people who like to buy overpriced coffee already. >> you get perks, lik
mutual funds too recently. stock mutual funds, money going into europe. money going into the euro and money coming out of gold and bond, sue. this is a very interesting development. it is not so relevant. gold is on the down side. >> it is worth noting. >> there is something happening. people are moving money around. we have been waiting for the bond to end and the ends of a new low. there are people borrowing money and making trades. >> certainly worth noting. thank you very much. >> hey, sue, we are watching shares of jc penney today, highering brandon from abercrombie and fitch. he is working for mike fisher of jc penney. of course, jc penney has come under pressure lately as newly implemented strategies may not be playing out as expected. we are watching those names and retail names into the christmas season as well. i wonder if we can get a board to see what other retailers are doing today. all right. doesn't look like that is possible. sue, over to you. >> jackie, a nice percentage move to the upside of jc penney. little bit of relief for shareholders suffering so much with
the underlying economy is improving. now you get china. if europe can stabilize, i think we can go much higher. >> how many days, if you add headline that monty was thinking about, going out and bursceloni was thinking about coming back. follow me on twitter. and "power lunch" begins right now. >> halftime is over. "power lunch" and second half of the trading day starts right now. >> and here we are. welcome to "power lunch." as you can see, we are beth here on the floor of the new york stock exchange. and stocks are higher as fiscal cliff song and dance continues in washington. mr. boehner says he is waiting for a proposal from this gentleman, the president. president obama. and the president is set to speak about the cliff and the a economy later today. >> i thought i was supposed to come here today. you thought you were supposed to come here today. so we are both here. not really, folks. a lot of talk today is about what investors should do if we go over the cliff. what should we do if there is a debt deal before year-end or shortly thereafter. we have smart strategies and individual stock
and europe, south america and north america. the united states, a beacon of light, right there across the galaxy. >>> and our person tonight is dave brubeck, the man who put the urgent pulse into american jazz. he died at the age of 91, after a life of breaking through racial barriers and musical ones. before brubeck, this was the simple rhythm of most jazz songs. listen. ♪ but after brubeck, the famous five-four rhythm that rocked the world. here it is. ♪ dave brubeck. and we know there are people and videos that capture your imagination every day, so, tweet me your thoughts for the "instant index," @dianesawyer. >>> and, coming up right now, we have a test for you. is this the queen of england? >> my dear, thank you so much. >> or, is this the queen of england? >> thank you for inviting me. >> do you know which one is the imposter? stay tuned. made a commitment to the gulf. bp has paid over twenty-three billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp'
just have to look at europe where they have all these kind work rules, like you mentioned this vacation do over. she's a new european thing. >> steve: how does that work? >> i have a doctor's note, i got sick on vacation. by law, i'm allowed to compensatory vacation time for that. >> steve: let's say you're gone for two weeks and say i was sick, you get another two weeks? >> exactly. or how about severance pay. that sounds kind. you got to pay people if you fire them. in spain, the old rule was 3 1/2 years. so nobody is going to hire somebody 'cause if you don't like them, you got to pay them for more than 3 years. >> steve: it wasn't progressive. so if you had just been an employee for a certain number of years or something like that, you get an automatic 3 1/2 year severance? >> no, it doesn't take effect unless you've worked there for a year. so lots of people -- >> steve: wait a minute. you work there one year? >> that's right. now they've shortened. they'll only have to pay $200,000. no wonder spain has a 25% unemployment rate and they're rioting. >> steve: what about what the gove
across europe. he toured the world with his group, his music caught fire. he was only the second jazz musician after louis armstrong, to appear on the cover of "time" magazine. he was honored at the kennedy center, and got to watch his own sons perform music on stage. ♪ ♪ ♪ . dave brubeck, american master, was one day short of his 92nd birthday. >>> and jack brooks has died, had was a student of texas, an enemy of richard nixon, attacked government waste all his life. he was pro labor, pro guns and pro district funds. he was in the vehicle when president kennedy was killed in dallas, he was among the giants in congress, over 42 combative years in the house of representatives. jack brooks was eighty-nine years old. >>> and a prank phone call gets the attention in london and around the world this morning. two morning radio hosts had the bright idea to call the hospital treating the pregnant duchess. they asked to speak to her, and unlikely as it may seem they got through to her nurse. and you're about to hear, the call sounded like a bad monty python sketch, with them doing an act
.s. economic data. none on top today. we're looking at a flat open across the board. as for europe, movement there. the buyback of greek debt will in fact work. we're seeing just fractions of a percent in terms of changes there. our road map this morning starts with the latest in the fiscal cliff negotiations. the white house promptly rebuffs the gop counterproposal which calls for $800 billion in new tax revenue but without tax rate increases for the wealthy. could this tax issue deadlock the talks? >>> bank of america ceo warns the cliff must get stalled or the economy could be stifled well into 2014. >>> even more dividends pushed into 2012. coach, american eagle moving up and oracle will play out three-quarters of dividends this year. >>> more strength in housing this morning. toll brothers earnings top expectations. we'll begin with the fiscal cliff. governors are set to meet today with the president and congressional leaders. governors are concerned about the impact of deficit reduction measures on their state budgebu. the latest gop offer would overhaul the tax code, raise $800 billio
're seeing a spike in vix futures. it's indicating more volatility ahead. europe, largely taking the cues from here in the united states, and the news last evening about plan b. we are seeing a 1% loss in italy, germany is down by .9%. >> of course, futures as you saw are taking a hit on concerns that a deal will not be reached to avert that fiscal cliff. an attempt by house speaker boehner to avoid that class and pass the so-called plan b tax bill. that failed. the measure that would have kept current tax rates for those making less than $1 million a year. it never even made it to the house floor. speaker boehner is scheduled to hold a news conference about an hour from now. of course, we'll bring that to you live. >> here we are. >> here we are once again. >> there was no real plan b. there was no real possibility of this. the republicans, the vast majority signed a pledge, they will not vote for tax increase. who would think they would suddenly turn around and vote for a tax increase. they pledged not to. >> the speaker said they might. >> i don't care. >> unless it's some sort of a pl
that everybody that works in the airline industry watches that movie. i was flying in europe on another airline, and the pilot, it was a really big plane that had extra seats in the cockpit, and before we took off one of the pilots came out and said come with me, and i went into the cockpit and they strapped me in and they took off and now they can tell everybody that we flew with murdoch. >> roger murdoch. i am an airline pilot. >> that actually happened. >> what is taller? you or the staffer? >> the statue is taller and it's taller than every other statue. i am closest to the street so everybody sees my statue first. >> how tall? >> 17 feet. >> it's an acknowledgment of what i achieved. >> what prompted you to write a children's book? >> i had an issue with the fact that so many kids, especially inner city kids don't think they can be a success unless they are involved in sports or entertainment. you take a young man growing up in harlem or the south side of chicago or here in atlanta and he wants to be jay-z, and he wants to be lebron james or denzel washingtons and he doesn't really see how
were mainly back in those days focused on fighting the war in europe. >> harris: for people just joining us, general norman schwarzkopf has died. he led operation desert shield and desert storm which were the largest deployments of u.s. forces and equipment since the vietnam war and general scales you just mentioned president george h.w. bush is ailing in the hospital but we have just gotten a statement from the former president and i want to share it with our viewers if you are still with us. the former president says "barbara and i mourn the loss of a true american patriot and one of the great mill tare leaders of our generation. hailing from westpoint. general norman schwarzkopf to me epitomized the service the dallesty creed that served our great nation through this trying natural crises. a good and decent man and a good friend. barbara and i send our condolences to his from our family. this from president george h.w. bush ailing in the hospital but speaking out in his statement about the passing of general schwarzkopf. general scales, are you still with us by phone? did we l
adult life in europe, hanging out with people who think it's whacky to be locking up people for smoking pot. >> reporter: seattle's attorney also pushed for the law. >> all we've done by prohibition is to will fill -- to fill our jails and make drug dealers quite rich. >> reporter: he said legal marijuana, even with high taxes, will be cheaper than illegal marijuana. >> you want to put the drug dealers out of business? >> absolutely. >> now that marijuana is legal in washington, the state is going to start collecting taxes on it. the state hopes to collect some $500 million. marijuana continues to be illegal under federal law. >>> feeling the impact if the country goes over the cliff. republicans are sticking to their position that tax cuts should be extended for all americans. danielle nottingham reports for wjz from washington. >>> lawmakers are getting an earful about why they need to avoid the so-called fiscal cliff. >> you have to nail this down. uncertainty is killing us. >> reporter: top economists talked about the impact of tax
of my adult life in europe hanging out with people who think it's wacky to be locking up people for smoking pot. >> reporter: in a show from amsterdam, steves gave a preview of what could soon be coming to cities and towns in washington. >> throughout the netherlands, bars selling marijuana are called coffee shops. amsterdam alone has over 300. >> reporter: he says america should not fear. >> consumption is not going to go up a lot. by every statistic, our government and the dutch government americans smoke more pot than the dutch, and the dutch have the most liberal laws on pot in all of europe. >> reporter: seattle's city attorney peter holmes also pushed for the new law. >> all we've done is achieve by prohibition is fill our jails and make drug dealers quite rich. >> reporter: he says legal marijuana even with high taxes will be cheaper than illegal marijuana. >> want to put the drug dealers out of business? >> absolutely. >> reporter: now that marijuana is legal here in washington the state is going to start collecting taxes on it. the state hopes
they want it. say they are still in it. euro next over in europe, they are going to potentially take public, not a part of their plans, per se, in terms of just including it. here in the u.s., they still want the straight equities business. der riff city was the key. >> people want to believe this is not going to be the latest in a chain of squelch deals, denied deals. you think this one -- >> this one does not appear to have any hair on it when it comes to antitrust. >> nationalism. >> two u.s. companies. two u.s. companies. unless you want new york versus atlanta. that could be -- >> we did that. >> atlanta, the financial capital of the world. not the same ring to it. >> oracle buys a company. yesterday, merkel buys a company. today -- >> angela merkel bought a company? >> play that out. the insurance business. gardner denver perhaps. david -- >> yeah. >> this is deal mania. >> mention arris, trading up again, double the size of the -- what is happening? >> ge this week. >> potentially, the italian enginemaker. >> the fiscal cliff, result supposed to be frozen? aren't we supposed to be pa
the fiscal cliff here in the united states. >> we still have those concerns. let's focus on europe. you have the european stock averages down. the eu markets are down because the italian prime minister announced over the weekend he will resign early. earlier than had been expected. and also we got new economic data that showed japan has slipped into a technical recession. they looked at their numbers. they revised the data. japan is technically in a recession. you have more uncertainty in italy. one of the important countries. and also you have this concern happening in japan. we have this week, ben bernanke and the fed will meet at a two-day fed meeting. a lot of people are hoping to hear from the federal reserve chief that there will be some kind of on going stimulus in the form of, you know, bond buybacks or something. we'll be looking to see what he has to say about the economy. this is another big uncertainty in the markets for the week. you know, this comes after consumer spending showing as "the wall street journal" set this morning, consumer spending, consumer confidence wabbling. th
in europe, when they would support some type of military intervention, would they be with us and under what circumstances, and for what scope of an operation. i'm sure, you know, all of the regional allies that are affected, jordan, turkey, israel, all of them must be spoken to and coordinated with as well. so this is a very difficult sort of multi-layered chess game both for the secretary of state and the secretary of defense, who must also coordinate and try to build coalitions around this in the midst of this crisis. we will be sharing intelligence with our allies, the intelligence agencies will be talking among themselves so they are building a common comprehensive picture of the situation on the ground. so there's a lot of activity that's going on, diplomatically, militarily and in the intelligence circles that we just don't see. >> bob, i almost hate to ask the question but for somebody who is unfamiliar, if assad is mixing sarin gas, were he to use sarin gas, what are we talking about? >> we're talking about the kill radius of a small nuclear weapon. very lethal. it would wipe out a
. the japanese markets, european countries, countries in europe which are precarious are in bigger trouble. the whole thing is going wacky, one guy is going to be standing in the middle of the storm, not grover norquist or some republican, but the president of the united states who has to weather the storm and point the finger across the aisle to someone nobody else in the world knows and says, speaker boehner, would you solve this problem? i'm not sure -- that's why i'm against you on this one. i think times have changed. >> economically the biggest risk is the sequestration. it's not the tax cuts going into effect. and -- >> you mean the millions of dollars -- >> the cuts that will be forced through in the next two years. that's a much bigger risk to the economy. >> therefore? >> therefore, if the president lets this thing -- look, the markets have already priced this in. >> i hear the opposite. i hear that they believe that grown-ups will do the job when they have to. they don't believe they're going to let us go over the cliff. >> i don't think the grown-ups believe they have to do the
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